The world’s largest cryptocurrency has gained 2.15% to rise over the previous day and cross the psychological $93,000 level, amid “bullish ETF inflows, technical breakout signals, and improving market sentiment”, according to CoinMarketCap data.
At 8.35 am, data showed the token at $93,104.09, up from early morning numbers at $92,700 levels.
According to The Kobeissi Letter, as many as $75 million worth of levered shorts at liquidated in 60 minutes, taking the token up close to $5,000 since its low on 2 January (Friday) after the US began strikes on .
Cryptocurrency market today: Market cap over $3 trillion
Data on CoinMarketCap showed the on 5 January at $3.16 trillion, with volume of $90.32 billion. Further, the greed and fear index was at ‘neutral’.
Among the tokens, Bitcoin maintained its dominance over 58.7% of the crypto market, followed by second largest crypto with 12.2%, and all other tokens comprising 29.2% of the pie.
- Ethereum was trading at $3,188.72 (up 1.42%), with m-cap of $384.86 billion (up 1.45%), and volume of $16.11 billion (up 28.3%).
- was trading at $0.9995, with m-cap of $187.02 billion (0% movement), and volume of $75.68 billion (up 27.63%).
- XRP was trading at $2.14 (up 5.19%), with m-cap of $130.11 billion (up 5.19%), and volume of $3.57 billion (up 51.79%).
- Coin was trading at $899.51 (up 2.09%), with m-cap of $123.89 billion (up 2.09%) and volume of $1.93 billion (up 18.55%).
Bitcoin price today: Token up over 2%, crosses $93,000 level
At 8.30 am on 5 January, was trading at $93,104.09, up 2.15% with market cap of $1.85 trillion (up 1.87%), and 24 hours trading volume of $33.09 billion (up 40.53%).
According to CoinMarketCap analysis, US spot Bitcoin ETFs attracted $588.6 million in weekly inflows, led by BlackRock’s IBIT ($436 million on 4 January). ETF holdings now total 1.27 million BTC (6.4% of supply).
“Sustained ETF buying absorbs , countering exchange sell pressure. This aligns with Bitcoin’s 4.37% weekly gain, suggesting institutions are accumulating despite recent volatility. Daily net inflows above $100 million could reinforce upward momentum,” it stated.
Bitcoin set for more upward movement? Here’s what experts say…
According to Harish Vatnani, Head of Trade at ZebPay, “Bitcoin has been trading in green for the past five consecutive days forming a ‘Higher High Higher Low’ pattern. However, to witness a rally, it needs to break and sustain above the key resistance of $95,000 and $100,000.”
Nischal Shetty, Founder of WazirX noted that are sensitive to macroeconomic and geopolitical developments, “reinforcing the view that digital assets are behaving as risk assets rather than standalone safe havens”.
“Geopolitical shocks have driven short-term volatility, with developments around the US-situation triggering rapid repricing across digital assets. This reflects how elevated geopolitical risk premiums are spilling into crypto markets,” he added.
Shetty feels Bitcoin will likely remain volatile and macro-driven, adding, “Prices are expected to hold key support levels while facing resistance near recent highs, leading to range-bound movement. Momentum indicators, such as RSI and MACD, will remain news-sensitive, with sustained upside dependent on improving global liquidity and risk-on sentiment.”
Further, Riya Sehgal, Research Analyst at Delta Exchange noted that a sustained breakout could open targets toward $96,000–$97,5000 range, with support at $91,500 and $90,000. She added that Ether also remains , facing resistance at $3,200–$3,250, with support at $3,050–$3,000.
“Overall, the market tone is constructive, with BTC and ETH showing strong technical setups, though geopolitical risks and TradFi reactions may influence near-term volatility,” Sehgal said.